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'll drill down to get some answers. >>> and then the man who many in the technology world call the next steve jobs. you're probably already using something this quiet genius already invented. "the wall street journal report" begins right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's a look what's making news as we head into a new week on wall street. corporate america had a strong message for president obama this week. ceos from more than a dozen of america's largest companies met with the president and warned that washington must reach a deal to avoid the fiscal cliff. the president also sat down with congressional leaders and officially began negotiations. if congress doesn't act, taxes on income, capital gains, dividends and estates will all go up. and automatic spending cuts will kick in, beginning on january 1st. this week, i spoke with alan simpson and erskine bowles, authors of a deficit reduction plan about what needs to be done. >> you can't tax your way out of this. you can't cut spending your way
take a look, dynavac technologies. we like the hepatitis vaccine. the government didn't like that. i think this is a curious overreaction. but it's a spec. you have to be careful. >>> let's go to dan in texas. >> caller: pch energy. >> down 16. mostly natural gas in ohio. if you watched the show, we told you it's mostly natural gas in ohio. i have been buying southwest, swn. why have i been buying southwestern energy? it's the pure nat gas play i want. i think it's going higher in 2013. >>> bill in south dakota. bill. >> caller: jim, my stock is american capital agency corp, agnc. there one is going to go down. why? maybe companies real estate investment trusts are worried about the taxation considerations, and we also have to worry about what the yield curve looks like and what they will do with fannie and freddie, so many -- so so many cost runs here, i think you should stay the course, but understand it's just another stock right now and it could lower. no longer charmed like it's wen. >>> john in new jersey. john. >> caller: professor cramer. >> thank you for the tenure. yes. >>
would say the sector most insulated from increased regulation in the dividends would be technology. generally technology isn't a very heavily regulated industry anyway. and they don't really pay a very high dividend. >> the question is, are we going to continue to see an end of year selloff as investors try to lock in profits when tax rates are lower versus next year when they, of course, will go up. but how high will they go up on the dividend-payers. >> sure. you're right. right now, you know, president obama's proposal would be to have dividends taxed at ordinary income. that would be substantially higher tax rate than the 15% tax rate that investors are enjoying right now. and, you know, either way, we do think that dividend yields will ultimately get dinged. as you mention, they have gotten hit, they were down something like 3% in the weekended right before the election. so even in anticipation of that. you know, it's hard to know. i mean, remember, a lot of dividends stocks are held in tax-exempt accounts anyway. 401(k)s, endowments, pensions. so we're dealing with a subset h
. down 60 points on the dow industrial average. nasdaq composite, weaker by 20 points. technology one of the laggards here today at 2883. the s&p 500 tonight gave up five points at 1374. we are moments away from quarterly earn from cisco. the company is expected to report a profit for the first quarter of 46 cents a share and revenue of $11.77 billion. let's get to today's market action as we await the numbers. good to see everybody. thanks for joining us. carol, what are you expecting in 2013 under president obama's policies? >> i'm not expecting anything very good, maria. i think that we're going to end up with some sort of a slow down. i think whatever the compromise that ends up being made under this grand bargain, it's going to be something that ends up hurting unemployment. that being said, i think there's always a tale of two markets. from a broader market standpoint, i expect the market to be hurting. there's always opportunities to be had. >> steve, you have some breaking news earlier. you reported on janet yellen. tell us what that says about where we're headed in terms of e
in equity prices on the prospects of a fiscal cliff aversion, energy and technology. technology is down double digits. energy fell off as oil prices fell down to the mid-80s, somewhat toward an uptick. >> gentlemen, thank you all. arthur, good to see you on set with us. >> thank you very much. >> thank you for joining us today. we call this fiscal cliff investing. bertha coombs joins us with the potential winners and losers in how investors can play all this with a fiscal cliff portfolio. >> and they've been doing it already. if the president and congress fail to reach a deal on the fiscal cliff the expectation is that stocks will be the big loser. defense stocks in particular with a prospect of massive budget cuts starting january 1st. now, they've been hard hit since the election, turning around a bit today. cnbc looked at a portfolio of etfs that correlate with the moves in the market on the fear of hitting fiscal cliffs in particular sectors, including etfs that short stocks, negative bets on the market, like the ultrashort s&p eft. down all year, its been a gainer since the electio
long sinus and headache relief. that bringing you better technology helps make you a better investor. with our revolutionary e-trade 360 dashboard you see exactly where your money is and what it's doing live. our e-trade pro platform offers powerful functionality that's still so usable you'll actually use it. and our mobile apps are the ultimate in wherever whenever investing. no matter what kind of investor you are, you'll find the technology to help you become a better one at e-trade. bp has paid over twenty-threebp billion dollarsnt to the gulf. to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> in moments like this one where everybody is panicked about something horrific like the fiscal cliff. it's more important than ever you have something to keep you interested in investi
technology company. certainly when you think about silicon valley and companies that have hit hard times. very view come through it and re-emerge. apple is one that we can all remember having done that. ibm. although not a silicon valley company but technology company. most recently perhaps ebay in a significant decline but i spoke to john at length on friday and it appears they have brought around their marketplace business in addition to continue strong growth at the paypal unit. it's difficult to do. when you come back to yahoo! you have to wonder how do they do it? >> is there an act two? cisco tonight almost every analyst on the street said they're going to miss. >> universal in both miss and then the guidance is going to be negative. david, when you spoke with stevenson, didn't you get the sense that the companies are done spending on anything other than amd on towers? >> they got to spend. you know, stevenson was very outspoken in saying fiscal cliff. we're not spending but we are. we're deciding to spend $14 billion over the next three years. they absolutely have to in order to c
discretionary retail housing and technology spending. if they cannot hold their gait, then no stocks can right now. other than higher yielding names like coca-cola, verizon, at&t. those three indicators that i just gave you tells that the bad news is baked in, or if it isn't, they will allow us to speculate that the stock market itself with the daily nose dives has washington worried. they will get us through this, and we'll get through this, even as we have to admit that odds for going over the cliff have increased greatly because the sniping has begun. we as a country were so close, almost there. the jobs spigot about to be turned on. numerous domestic industries were turning to the positive, many for the first time in years. our stock market was taking on all the attributes of the bulls of yore. all of that is out the window, because in six weeks, the financial world as we know it will be torn asunder, and this has nothing to with how well companies do or how cheap stocks are historically, it's all about the pride of our elected leaders. what can i say? we deserve better. jack in ohio. jack
corrections there, and things are becoming somewhat more interesting. so we're looking at technology and some other areas where we can have good visibility. >> what else apart from technology is on your list? >> i think some of the internet providers, some of the hardware providers have been hit particularly hard. we think that those areas provide not only very good balance sheets, but we think that as the market recovers next year, as the global economy eventually begins to turn around, we see better demand. ultimately, that's going to endure those kind of companies. >> apple has become a proxy for the market. market down 10%. apple down 10% or more at this point. would you buy apple here? >> i would. this is coming from a guy who hasn't owned much apple at all. right around here, again, sounds like a theme here. we have a tech stock selling at about a nine times earnings. believe it or not, it has a 2% yield. >> you're not concerned about some of the reasons why it dropped, mark? >> no, there's a whole list of reasons. i think the first one with the most weight in my mind is it's a proxy fo
that are either increasing dividends or looking to initiate dividends in this environment. technology companies will be less likely to initiate dividends in that environment where you had a higher dividend -- tax on dividend rates as opposed to capital gains. that's the scenario to watch out for. >> last word to you, quickly. >> yes. you know, the thing we have to remember is that interest rates are very low. investors right now are all about generating income. and i believe that our politicians recognize that. i believe the corporations recognize that. so you can't change your strategy just because we may be seeing a change in tax rates. >> all right. you might be giving a little too much credit to politicians, but -- >> maybe. >> -- i digress. thank you for joining us. >> in the final stretch. market just went negative. we've given up those gains and then some with the nasdaq under pressure. >> after many beaten down years, housing is red hot. we'll deconstruct whether this hal rally can continue. >>> president obama vowing to veto any fiscal cliff bill extending tax cuts for people making mo
by technology stocks and also ship builders. in us a take i can't, commodity plays lent support to the asx 200. talks of a leverage buyout plan. sensex now trading louisa, back to you. >>> the spanish bad loans according to reuters, now at the 10.7% during the month of september versus 10.5% seen in august. so according to the bank of spain, we're seeing that figure just creeping up just by a tad. now, in the u.s., a slightly grimmer picture. major u.s. indices have fallen by 5% since the election day. this month already stacking up to be the worst november for the dow and the s&p 500, ninth worst november since 1973. so it's been pretty dismal trade if you're an equity holder. hi, charles. we talk about this and we're looking at a bounce in europe this morning. do we think the grimness will continue? >> i think the equity markets, they couldn't really believe bond the election until it was out of the way. you had clearly different scenarios fending on who won. having got that we were left with very much the same political structure that we had going into it. so you had to reprice in some tail
't go all the way to the defensive end of the spectrum. we do like health care. we do like technology. we do like financial. so it's a little bit of a mix. but we're not out there telling any of our investors to be hero heroes. >> do you buy gold? >> i agree that the fed is probably going to keep the pedal to the metal. we may see an expiration that they add to qe3 or whatever you want to call it and maybe buy up those purchases. >> i hear both of you saying that. brian says buy gold. you know. thank you for that. now folks, walmart in the news tonight taking action against the retail workers union for generating flash mobs and picket lines at the stores. the national labor relations board is getting involved and calling this a top priority. we're going to get you updated but before that, now let's look closer at the optimism about a fiscal cliff deal. is it a real deal? all right. baker, i'll start with you. i'm not sure where you are. but, president obama has made it very clear. he wants 1.6 trillion dollars of new revenues over the next ten years. okay. i would argue in order to ge
the reserves, no question we have the reserves. in the ground today. number two, we have the technology to get the reserves out of the ground. and number three, we have the money to pay for it. >> right. >> capital exists. >> will the capital be spent? i want to go back. i want to backtrack because i know you are so good at this. with you l the capital be -- so far it has been invested. is that fair? >> it has been invested on private lands, private property owners giving up mineral rights under state permits but something is about to change. that everybody needs to be mindful of. we are about to arrest all of this oil field development when the epa completes their long awaited three-year stud, started at 2010. and it is due in january. to essentially remand the states from taking the variable approach they take on fracking and hydraulic to put a consistent epa knows best policy in place. >> despite the fact we have known this regulation was coming but keep postponing and postponing it. what you are saying is they decided to postpone it after the election, number one and number two, the epa kn
holdings, marvel technology. >> i think that technology is being passed by. it is a very poorly run company. maybe the 3% yield helps it. i don't want anything to do with that stock. i would like to go to cody in michigan. cody? >> caller: boo-yah. >> wow. nice. >> i want to know what you think of ttc? >> yeah, it's a great housing play. it's a winner. i feel like it's going to continue to win. and let's go to carol in big missouri. carol? >> caller: boo-yah, jim! >> nice overtime win there, carol. what's up? >> caller: yeah, i'm wondering if you think alcoa aluminum is poised for a rebound in 2013. >> in 2013, yes. it does have tremendous tax law selling between now and year end. that is one horrible commodity that he has to deal with. it was like, you know, the copper corporation would be doing good. let's go to daniel in virginia. daniel? >> caller: yes? >> go ahead, daniel. you're up. >> caller: yep. >> you're up. >> caller: yeah, i'm wondering about ssys. >> stratus. yeah, that thing up is too much. that is a register ringer if i ever saw one. i don't want to be in a technology stock u
rushed, particularly technology companies rushed to europe. you'll see in q-1 companies saying, look, we have maintained our european. don't worry about european. if they don't say it, i think we'll sell the stocks. >> worse before it gets better was on the conference call. >> industrial production misses this ridiculous fight between the eu and imf. bank of england cutting growth outlook for the u.k. >> gdp tomorrow. it will be terrible. alco alcoa being struck because they try to close a plant. the conversation will be at the beginning of the conference call and europe -- we're managing europe down to x. european we're going to close europe. ford motor gave you an example of what will happen. we won't let europe bring our company down. latin american, asia turn turne. we won't let europe ruin us. europe will be isolated. that's what happens if you decide to go off the grid like they're doing. their major issue is carbon tax. they keep talking about carbon tax. the european, the german power company talking about having too much solar power which is bringing down and able to make money
deloitte ranked it number one on their 2012 technology fast 500 list. not only that, the model has been named car of the year but automobile magazine, yahoo, and the coveted "motor trend." jim, i've test driven the model s, and as the "wall street journal" car guy says, it's a beautiful car that goes like the stink of hell. i couldn't agree more. do you still think it's too speculative? >> i was talking to my friend mike faber -- i mean david faber. mike faber's the guy from homeland. he said jimmy, have you checked out the tesla? my take is tesla didn't go down because romney lost but i need earnings. i've got enough problems with the companies that have big earnings, big dividends, i don't need to go into the speculative mode right now. please be careful. with the fiscal cliff looming the early bird is not catching the worm right now. it's just getting crushed. okay? the fiscal clifford, yes -- fiscal clifford, the big red ink dog is going to crush the early birds. it's too late to sell for most stocks already, though. well, let's say for a lot of them. and it's right to start legging
the holiday stress. fedex office. that bringing you better technology helps make you a better investor. with our revolutionary e-trade 360 dashboard you see exactly where your money is and what it's doing live. our e-trade pro platform offers powerful functionality that's still so usable you'll actually use it. and our mobile apps are the ultimate in wherever whenever investing. no matter what kind of investor you are, you'll find the technology to help you become a better one at e-trade. heartburn symptoms causedelieve by acid reflux disease.etter one osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. >>> i'm not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. >> raising tax rates will slow down our ability to create the jobs that everyone says they want. >> we should not
've done, with the help of technology, using diver technology, we dove in to take a look at where federal spending is highest. it is color coated by per capita spending by county here. what you see -- take a look. where it's red it's the highest from 20 all the way up to 175,000. there's actually one county in north carolina where i think hatteras island is where there is a big fema project. along the eastern seaboard a lot of that fema smending. th spending. then into florida where there's a lot of social security spending. same think along the gulf coast. zoom in on one louisiana county in here, there's a u.s. penitentiary there. a lot of federal spending. up through here, farm subsidies, drought relief. all kinds of things. out in arizona, retirees and other -- all the way up there in the state of washington. i understand we've got somebody coming from that state, a big naval base. that's going to show up big and make it red. what the pew center on the states did, they divided it up, said what federal spending is a% of gdp. maryland, virginia, district of columbia comes up the highest.
to the nasdaq, she is following the big movers. >> technology a sore spot for the markets now the s and p tech index trading in correction territory, microsoft down on the departure of the windows division head. management shakeups the street likes, this one they clearly don't a quick check on social media stocks, facebook shares under a little bit of pressure as the street braces for a possible postlockup selling, the biggest lockup since facebook went public. roughly 800 million shares, sue, back to you. >> thank you very much, seem ma. to the bond market now, rick santelli is tracking the action for us at the cme. how are yields doing today, ricky? >> still continues to be a one-way market. the only thing we a by how big of a one-way street is it on? today, only a couple of basis points. look at a chart starting august 1st most important feature, close to a two-month low in yields on the ten yours as well as the 30 as well as the bond. if we look at foreign exchange, very important, see october 1st dollar index, hey what is going on? dollar index is doing well. things really be that bad? ho
. you walk into a conventional mattress store, it's really not about you. we have so much technology in our store to really show the customers what's going on with their bodies. you can see a little more pressure in the shoulders and in the hips. ... now you can feel what happens as we raise your sleep number setting and allow the bed to contour to your individual shape. oh, wow. that feels really good. at sleep number we've created a collection of innovations dedicated to individualizing your comfort. the sleep number collection, designed around the innovative sleep number bed - a bed with dualair technology that allows you to adjust to the exact comfort your body needs. each of your bodies. so whatever you feel like, sleep number's going to provide it for you. during the final days of our semi-annual sleep sale, save $500 on our classic series special edition bed set plus special financing on selected beds but hurry sale ends sunday. you'll only find the innovative sleep number bed at one of our 400 stores, where queen mattresses start at just $699. >>> a deal on the fiscal cliff i
pressures and the uncertainties, and also other technology companies really did not have very good quarters as well. i thought the company did a very good job on execution, on cross control and market share gains. the fact that this company is grow revenues at 5.5% while its peers saw revenues decline 4.3% in the same time period, it really speaks to the market share gains that they're seeing and that the clear highlights to me were service provider video, retireless and data center all growing double digits nicely. >> kelly and i were talking about this earlier. cisco seems to sort of outperform -- seems to be an outliar. does well when others aren't and doesn't do well when others are. i'm wondering is that actually the case? because that's the appearance. and indeed whether we can take anything for the sector from this. >> i think the one thing that if you want to take away from cisco's quarter is that the u.s. enterprise for cisco grew 9%, versus 5% last quarter. that's the second quarter in a row where you saw acceleration. and this is a leading indicator for its broader businesses. th
technology brushes for a superior clean. oral-b power brushes. go to oralb.com for the latest offers. >>> ruckus wireless celebrating its ipo today. trading lower by 2.5% right now. joining us is selina lo. great to have you with us here at post 9. >> hi. >> so many other ipos this week withdrew because of market conditions. you opened at 15 but the stock is trading lower. any regrets? any thoughts about possibly delaying this thing prior? >> no. we had had incredible reception when we were on the road. we had some high quality investors. i believe that this -- we can't control the economy or the stock market but we feel good about our economy and the level of interest. >> ms. lo, can you talk about who your competitors are and one of the things we've been talking about is dell is going by the wayside. sears. who are you replacing? who would i have used before and now i use you? >> we make wi-fi equipment for service providers and enterprises. our equipment is extremely reliable and easy to deploy. and now with so many mobile devices and the whole interest in mobile internet, we are
there are interesting investment opportunities in technology, in home builders that have pulled back, but we're not quite there yet. i think we'll get that opportunity in the coming weeks. >> you think there will be a lot more volatility and what we've seen will continue? >> yeah, take a look at the lame duck sessions of the last 50 years. volatility is three times higher in lame duck sessions. so expect that. plus every one of them, we've seen the market decline. even with major accomplishments like increasing the debt ceiling. so still likely to see some down side. i don't being ythink you need t about missing it. the big he risk is being too early coming back in. >> what are the tech names that you like? >> in the technology sector, there's a lot of interesting opportunities. mainly those that export. china's growth is beginning to improve. they buy a lot of capital equipment from us. so it's the big names in technology that provide a lot of that export capital equipment that we think will buns back the strongest in the first. >> bob, another thing we've been talking about is the people h
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. i had to get back to him. this is a favulous company, not fabulous, technology embedded in chips that allows to track human motions from smart phones to gaming devices to video cameras. stock down 29%, sudden departure of the ceo. broader macroeconomic worries. i say no need to be a hero. it might look attractive on valuation basis, but the stock can drift lower. stay away. last thursday, november 9th, right off the election, john in texas asked about greenway medical, gway. they just won a big new contract with walgreens. health care technology solution that will supply electronic medical records to 8,300 walgreens. besides being certified, 37 times next year's earnings? too expensive for this i wouldn't touch it. wait for an earnings hiccup, something we've seen from these health care i.t. providers. that will give you the pullback you need before you can build a position. we have lost too much money in this market buying stocks that sell for more than 30 times earnings. now september 14th, i highlighted a speculative opportunity in a company called dynamax. at the time it look
. >> an upgrade. >> emerging markets talking about china expansion. one of the attempts to get technology going here. >> marathon this time. >> important to talk about israel and gaza. this company has unique american assets. oil and gas will be great here. >> a final upgrade. >> this is my favorite international company. they are moving it everywhere. india, china, people drinking whisky like mad. >> big deal with india in the past couple of weeks. >> i met with my friend johnny walker black over the weekend. >> how is johnny doing? >> it was at a wedding. he is always there. >> he's a great guy. he should meet by buddy jim beam. >> what's on mad tonight? >> we'll talk about fiscal cliff saying, listen, here's what happens if we solve it. i think this rally today is about solving it. and i'm going to present the world view that is going to be just unbelievable if we get this thing solved which would make a lot of stocks go up dramatically including apple where we would finally get a sense that maybe it's not worth selling because the capital gains tax may not rise that much. >> on friday night
rates and rigs. this technology is being deployed in such a wide area and so rapidly and with constantly changing technology that the issue for natural gas at this moment in terms of price isn't the depletion rate. it's the huge backlog of wells that have been drilled that haven't been connected to transportation networks to move it from the well head to the markets. so you have a lot of gas sitting there just waiting for the tap to be turned on and that will continue to happen because this is something that is changing the u.s. energy market and is something that at these prices is still profitable for the companies. >> before we let you go, what do you think they are saying in the halls of opec today about this report? >> i don't think halls of opec are that worried. china and the emerging market demand is not going to go away. it may not accelerate as quickly as some people had predicted. certainly the destination for oil from the middle east increasingly is going to be asia. it already has been. we are already looking at perhaps in the next five years according to this report today n
is julian sanchez, a senior research fellow covering technology, privacy, and civil liberties. jeremy, once again, a reminder that even though you hit the delete button, it doesn't disappear completely, does it? >> everything can be tracked, traced, monitored and recovered. if you have something really important or private, either say it in person, put it on a piece of paper, burn the piece of paper, nothing is private anymore. >> even a draft? you didn't even send the draft. >> there are two kind of people that use this technique. it's teenagers and people who read "the girl with the dragon tattoo." this is a pretty well-known technique. it isn't super secret. it's more than what you'd expect from the average person to do, but if somebody wants it get into a g-mail account, the most e-mailed article last week in "the new york times" was how to protect your password. people are just getting a feel for out insecure their online e-mail accounts are, but they're very vulnerable. >> so they're figuring out your password. >> julian, you're troubled this investigation began to begin with. it did
this is a much longer term story. they have data. they have technology. they have reach. >> so how come the stock has lost so much of its value i understand the ipo then? >> the valuation was always an issue here. part of the lockup expiring reminds us of the valuation play. it's still $48 billion for a company with $5 billion in revenue. so the sale of the century, this most certainly isn't. part of what we're seeing is rotation out of the big three, out of amazon, apple, and google. some of the tech money is looking for a place. there's a decent number of people out there who like the upside to downside ratio in facebook. all that being said, mobile is important for them. we're yet to see them monetize outside. they have to do that to grow into any kind of valuation above of $26. we have another big problem in mobile here which is about 50% of the click throughs where they're making their money turn out to be errors. they're accidents based on big fingers on small surfaces. >> facebook is still one of the top if not the top water cooler stocks to talk about in 2012. we just proved it once again
building stocks are the number one group thus far this year. you want to go back to your technology. apple, that thing is down over 25% now. buy some apple. buy it on a scale down basis. average down on apple. that would be one thing. oracle is another one. that is at the basis. and qualcomm. those three, bill. >> okay. jeff? >> looking to hedge where the s&p 500 may go. looking at holding some cash. also looking at some opportunity where is they're emerging. oil, for example, on mideast conflicts starting to lift higher. that might be an opportunity. >> just like to wish xi jinping, the new president of china, all the best. may he have success, social stability, and integrating china into the world economy. he took office yesterday. god bless him and god bless china. >> let's see if he can get past all those conservatives. >> thanks, guys. >>> yesterday, when maria sat down with alan simpson and erskine bowles, simpson took aim at republicans like grover norquist who have pledged not to raise taxes under any circumstances. listen to this. >> i've always said about grover he's wandering th
have so much technology in our store to really show the customers what's going on with their bodies. you can see a little more pressure in the shoulders and in the hips. ... now you can feel what happens as we raise your sleep number setting and allow the bed to contour to your individual shape. oh, wow. that feels really good. at sleep number we've created a collection of innovations dedicated to individualizing your comfort. the sleep number collection, designed around the innovative sleep number bed - a bed with dualair technology that allows you to adjust to the exact comfort your body needs. each of your bodies. so whatever you feel like, sleep number's going to provide it for you. during the final days of our semi-annual sleep sale, save $500 on our classic series special edition bed set plus special financing on selected beds but hurry sale ends sunday. you'll only find the innovative sleep number bed at one of our 400 stores, where queen mattresses start at just $699. >>> we are rising above the fiscal cliff this morning with a private equity titan, wilbur ross, chairman and
of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> good morning and welcome back to "squawk box" here on cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. our top story is an economic ticking time bomb. what am i talking about? the fiscal cliff. about a dozen ceos are scheduled to meet with president obama today, including ge's jeff immelt. et another friend of the show,
by technology, retail stocks are also in the green, food and beverages, autos among the sectors dragging on the in-dek. we can take a closer look at the bourses. ibex is down. ftse 100 sam thing, so we'll keep an eye on all these levels as the show progresses this morning. the bond space is where we've been focusing our attention with spain and greece on. spain today seeing prices rise, yields coming down to 5.78%. italy seeing a bit of a rally, too. selloff for britain and bund oigs boig benefitting. quick look at information rek. 81.02 is the left. down another tenth of a percent. euro-dollar is lower by a quarter of a percent. nymex and brent both adding to their levels as we see continued unrest across the gaza strip. gold, though, is lower. let's get out to asia. it's china, japan, which are dominating trade morning. >>> markets wrapped up the week on a mixed note. nikkei ended at a two week high. hopes of more policy easing. the yen trading around the 81 handle versus the greenback. shares in china extended losses and down 2.6% this week. no real policy cut list after china unveile
for technology. i don't really feel like i'm paying a lot for all this digital stuff. i don't feel -- >> i did tell you about what happened on a delta flight with my family, though. we had an engine blow out in midair and had an emergency landing. and that's not to suggest that -- >> i don't feel like every time one of our airlines go up that there's a chance it will crash. you don't let me say this, but when is the last -- remember every year the media would rush to the big 200 person dead -- remember? >> i was just on a delta shuttle on wednesday or tuesday. >> when was the last major -- >> let's hope we never have to hear about another one. >> and you hear about the air traffic near misses and things like that. and i pray and hope and knock on wood, but 50,000 takeoffs and landings a day. >> statistically -- >> can we go to london? >> not on an old jet. p. >> becky would like us to talk about the global markets report. kelly evans is across the pond. we won't fly to you. we'll do it by satellite. >> good morning. i'm cringing as i listen in, but i'm also cringing at some of the market actio
. but becoming real progress. the technology is too expensive. it is coming down fast. and the boxes which are built by whirlpool, general electric have the possibility of coming in at $500 apiece. further, there is already a natural gas distribution system in place. utility companies cover 65 million companies. if they were smart, light, utilities this is a good business for them, they can subsidize the boxes to allow for overnile fueling. the storms in the northeast showed the wisdom of hooking up a generator. this is a similar operation. the utilities should be behind them. you get the utilities providing the box. then the demand for the vehicles will expand dramatically and you'd have to believe that auto companies will then offer natural gas fuel option in mass. savings from fuel will be considerable for each household. right now you can see a 2 1/2 year payback for the vehicles as you the savings will be at $2,175 per household. cost about $4,000 more than a gasoline powered car. people don't like to pay that much though. they don't see the payback. the cost of the cars could come do
of infringing on its technology. and citigroup will pay 15.5 million each to former ceo vehicle recomme vikram pandit reflectinging t t progress the coma. >> some of it was money that it already -- i thought the number was 6.6 smld what they actually gave him as an incentive fee. >> for leaving? >> well, that's the irony of it. >> going quietly maybe. >> he didn't go that quietly actually. he said it was his choice. he blamed everybody else. >> that's all boiler plate, isn't it? >> i guess so. >> so the jacket was deliberate. >> honestly i said to myself i don't have a pin today and maybe i will just not wear the jacket as a wave rising above. >> interesting. >> mac even came over to hand me the jacket. >> i saw. >> deliberate. >> goldman sachs is in settlement talks over an $8.3 billion position that one of the traders had concealed five years ago. a settlement is expected in coming weeks. and i probably -- do i look different today? no? not really? >> did you get a haircut? >> no. i got power. last night. >> you got power. >> last night. >> like 11:00 last night? >> 11:00. >> so almost two f
an impact from weakness particularly in europe on our technology business but we're seeing strong revenue growth and improving earnings in our services businesses. mixed bag. >> you've been talking about your services led business, part of the transformation of the company. at this point how much does that make up of the company in. >> a little bit more than half of our revenues. if you look forward to 2017 it will probably be two-thirds of our revenues not only driven by the fact we are growing that portion of the business but because the market's transitioning, customers are transitioning. they want more than a point solution. they want us to help them change the way they get business done so it's an exciting and growing portion of our portfolio. >> how does that change who your competitors are? >> it's a great question actually. our traditional competitors in the hardware business is hp and rico and cannon. now we have a large number of smaller less capitalized competitors mixed in with a few large competitors. we have transportation competitors, customer care competitors, we have heal
, but the dow has been hit with a lot of big losers. take a look. big losers in the technology field. hewlett-packard and intel. big losers in the global industrial names like caterpillar and dupont. maria, back to you. >> all right, bob. thank you so much. don't even think about touching that remote. what a news day. we have a lot more ahead on this busy edition of the "closing bell." >>> coming up, getting down to business. in a first-on interview, honeywell chief david cote tells maria about what trab spired at the highly anticipated business leaders meeting with the president and when his impressions are that a deal on the looming fiscal cliff can get done. >>> plus, tax hike negotiator. the president wants $1.6 trillion with a "t" more in taxes. is this a negotiating ploy? how will it affect the upcoming talks with john boehner? two top-tier negotiators give their insight into how the meeting could unfold. >>> and trading places. charles schwab ceo talks exclues i havely to maria about the current crisis of confidence in the stock market. could a deal on the looming fiscal cliff be just
the kindle. >> if you look at our kindle fire hd, high-definition display, pack a lot of technology into a very low price point. $199. because we don't make any profit when we sell the device. we sell the device near break-even and then we hope to make money over time as people use the device. they buy ebooks, they buy mp3s, they buy games and that's a different approach. it's working for us. >> certainly working for apple as well. amazon, of course, the stock for the year up now 30%. >> simon, thank you. >>> the fiscal cliff and shifting tax landscape, which have dominated the financial and political dialogue, has prompted many investors to take fresh looks at their portfolios and financial futures. to that end, fidelity investments with $3.8 trillion under management. kathleen, welcome back. i wonder what you're hearing from the people for whom you manage money about the fiscal cliff and whether they, in their portfolios, feel hostage in any way to what's going on in washington. >> we recently surveyed our investors and they told us in terms of the issues upper most on their mind,
, technology and clean energy, putting people back to work, rebuilding our roads, our bridges and our schools, and reducing our deficit in a balanced and responsible way. now on this last item, we face a very clear deadline that requires us to make some big decisions on jobs, taxes, and deficits by the end of the year. both parties voted to set this deadline and i believe that both parties can work together to make these decisions in a balanced and responsible way. yesterday i had a chance to meet with labor and civic leaders for their input. today i'm meeting with ceos of some of america's largest companies and i'll meet with leaders of both parties of congress before the week is out, because there's only one way to solve these challenges, and that is to do it together. as i've said before, i'm open to compromise and i'm open to new ideas and i've been encouraged over the past week to hear republican after republican agree on the need for more revenue from the wealthiest americans as part of our arithmetic if we're going to be serious about reducing the deficit. because when it comes to taxe
and sustained way. the american people are among the most productive in the world. we have the best technologies. we have great universities. we have entrepreneurs. i just have every confidence that, as we get through this crisis, that our economy will begin to grow again and it will remain the most powerful and dynamic economy in the world. >> chairman bernanke is not the only person concerned about the state of the country's financial system. a lot of people are worried about their bank these days. while devastated giants like citigroup get bailed out again and again and again, many smaller banks are failing. the federal agency that takes over unsound banks is the federal deposit insurance corporation, the same people who guarantee that depositors won't lose their money. and you don't see the f.d.i.c. seizing banks, because these takeovers happen secretly at night to make sure that there's no needless panic by depositors. but in february 2009, scott pelley was given extraordinary access to one of these operations, because the f.d.i.c. wants you to see what happens to your money when your bank
, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. and you pick the price that works for you. great. whoa, whoa, jamie. watch where you point that thing. [ mocking ] "watch where you point that thing." you point yours, i point mine. okay, l-let's stay calm. [ all shouting ] put it down! be cool! everybody, just be cool! does it price better on the side? no, it just looks cooler. the name your price tool, only from progressive. call or click today. i got you covered. thank you. oh, you're so welcome. >>> new york stock exchange suffered a trading glitch. an outage shortly after they opened monday on its matching engine. trading halted for more than 200 stocks. once they determined their official closing price based
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